Samsung Electronics and IBM have announced a patent cross-license agreement, under which the companies will license their respective patent portfolios to each other.
Over the past several decades, IBM and Samsung have built strong patent portfolios covering a wide range of technologies including semiconductors, telecommunications, visual and mobile communications, software and technology-based services. The companies said the cooperation fostered by cross-licensing reinforces their ability to provide better products and services while maintaining their competitiveness.
According to Dr. Seungho Ahn, Executive Vice President and Head of the IP Center, Samsung Electronics, this licensing agreement will help both companies expedite innovation and achieve business growth by providing each company access to the other’s patents for basic technologies. The company also hopes that the agreement will open new opportunities for wider collaboration between two of the leading innovators in the technology industry.
As per Ken King, Vice President, Patents, Software & Services IP Licensing for IBM, patents and innovation are a critical component of IBM’s high-value business strategy. In addition to protecting the huge investment we make in R&D, patents also allow them to establish cross-licenses, which provide IBM and partners like Samsung significant freedom of action, which is essential in the competitive global business environment.
Specific terms and conditions of the agreement were not disclosed.
